Groundnut (Arachis hypogaea L) genotypes belonging to diverse growth habits, namely, Spanish bunch, Virginia runner and Virginia bunch were evaluated for oil content and fatty acid composition in four environments. Variability for oil content and fatty acids was significant, within as well as between growth habits, in all the environments. Oil content was independent of growth habit. However, the different fatty acid contents were related to the growth habit. Both traits were significantly influenced by environmental fluctuations. Oleic acid concentration was highest in the genotypes belonging to Virginia runner, followed by that of Virginia bunch and a minimum in the Spanish bunch type. This trend was reversed with respect to linoleic acid concentration. Virginia runner genotypes, having a higher oleic/linoleic acid ratio, yielded a low iodine value oil and had a longer shelf-life. The genotypes with Spanish bunch type of growth habit possessed a higher linoleic acid content and can be used as a source of refined oil.